The group Princess Yachts West Sweden / Norway / Denmark is committed to improving its practices to combat Modern slavery. Modern slavery is a crime consisting of slavery, servitude, and compulsory and forced labour and human trafficking. All forms of modern slavery are a violation of fundamental human rights and have a devastating and depriving effect on a person’s individual rights in return for exploiting the individual for personal or commercial gain.
We have a zero-tolerance approach to any form of modern slavery and continuously works to ensure that its systems and controls are effective in safeguarding all members of our organisation from any form of Modern Slavery. We encourage and expect all our staff, suppliers and distributors to report concerns and management are expected to act upon them.
We respect all people and are committed to equal treatment. We endeavour to ensure that no slavery or human trafficking takes place within our business or supply chains and will take immediate steps to deal with any organisations or individuals found to be involved in such practices so that our standards and values are maintained. This policy reflects our commitment to act ethically and with integrity in our business relationships.
We are committed to taking reasonable steps to help address the risk of modern slavery or human trafficking occurring in our supply chains or in any part of our business, recognising that this is an ongoing challenge. To safeguard against this risk, we ensure that:
• our management, staff and contractors are advised about our policy on the MSA
• on induction, staff are vetted to ensure that they have the right to work in our region and we require that contractors also carry out such checks
• our business activity and that of our contractors complies with minimum wage legislation
• we protect whistle blowers
We require that the business practices and supply chains of our suppliers are in accordance with the MSA. Due to the breadth of our supply chains, we are not able to check every business relationship. Accordingly, we monitor compliance by suitable levels of due diligence according to our assessment of the risk of the potential for modern slavery and/or human trafficking.
If we are not satisfied that a supplier complies with the MSA, or is taking reasonable steps to achieve compliance, we will (to the extent permitted under contract or by law) temporarily suspend business with that supplier. The ultimate sanction for continual failure to comply will be for us to cease to trade with that supplier (as quickly as permitted under contract or by law).
We will quickly and thoroughly investigate any claim or indication that any area of its business or supply chains is engaging in modern slavery and/or human trafficking and appropriate remedial action will be taken. The Board of Directors will be informed of any such instance, including the findings and outcome of the investigation.
This statement has been approved by the Board of Directors of the group, who will continue to review and develop our monitoring processes and training and update them as necessary.